Ripple is almost ready to launch a new office in Shanghai, China. At the moment, the company is searching for a new country manager in charge of the launching. The new office aims at expanding the presence that Ripple has on the Asian continent.
Ripple Expands in China
Ripple is searching for a new entrepreneurial leader ready to help them launch a new office in Shanghai. This would allow the firm to have a more settled presence in this region, which is very important for the cross-border payments industry. The professional must have experience in the payments market, understand how it works in China and also have a network of contacts.
This new office will allow Ripple to keep increasing the number of companies working on the Ripple Network. Back at the beginning of the year, Ripple announced that they are working with more than 200 companies from all over the world.
According to Daily Hodl, China is the second remittance market in the world. Data from the World Bank shows that the remittance market in China moved $67 billion in just a year.
Ripple is based in San-Francisco but has offices in many different countries. London, New York, Mumbai, Sao Paulo and Sydney are other cities with a physical Ripple office. RippleNet is currently trying to compete against SWIFT and the products and services the company is offering.
January was an interesting month for Ripple. The firm was also able to launch the Blockchain Technology Research Scholarship Program (BRSP). In order to do so, they have been collaborating with Tsinghua University Institute for Fintech Research, a leading academic institution located in Beijing.
We are excited to announce that partnering with @Ripple, we launched Blockchain Technology Research Scholarship Program (BRSP) in 2019 ! pic.twitter.com/kImc5p2d4h
— Tsinghua University Institute for Fintech Research (@THIFR3) January 23, 2019
China is a country that has been promoting blockchain technology but not cryptocurrencies. Indeed, Back in September 2017, the country banned Initial Coin Offerings (ICOs) and other crypto-related services. In 2017, the country filled the largest number of blockchain patents in the world, even more than the United States. China is also one of the leaders in artificial intelligence as well.
The country is also monitoring companies that are working with distributed ledger technology (DLT). These firms will have to provide their name and server addresses if they want to keep operating.
Currently, the XRP digital asset is being traded close to $0.305 and it has a market capitalization of $12.58 billion.
